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Selling an internet business is a complex process and most internet business owners have never sold internet business before. If you are internet business owner and considering using services of a business broker, you must read following to understand what are the important factors in considering to use services of a business broker.

1. Does the broker have experience selling internet businesses: Make sure the business broker you select to sell your internet business has experience or knowledge with selling internet businesses. Most of the buyers who are looking for internet businesses are not interested in regular brick and mortar and retail store front type of business. If you decide to work with a broker who sells all kinds of businesses, you may miss on a big advantage internet business broker can provide you with their existing buyer pool. In addition, ask about the sites they have sold and ask for seller references. If you were not happy with your broker you will not give him a good review.

2. Convey your expectations: Make sure you discuss and convey your expectations to the intermediary you select. Direct and open communications about expectations and other issues with your business broker is critical in selling your internet business.

3. Devil is in the details: Is your broker asking the right questions? Has he determined the adjusted net income and valuation of your business and provided you with his recommendation on asking price prior to asking you to sign a listing agreement? Ask him about a cash price vs. a price with terms involved. 70% of all small businesses put on the market never sell and the number one reason is that the price is usually too high and the deal structure is unrealistic for potential business buyers. You want to work with an honest business broker who is not afraid of loosing your business by telling you what he thinks is the realistic asking price for your internet business.

4. Confidentiality: Internet consumers are savvy internet users and you don’t want your customer to know you are selling your web business. you need to know how the broker is going to keep the sale of your internet business confidential in nature. Ask your broker to see a copy of a Non-Disclosure Agreement they are using and ensure you are comfortable that it sufficiently protects you as a seller.

5. Preparedness: Make sure the internet business broker you select to sell your business has prepared your business for marketplace - are all the financials and tax returns on file and ready for possible due-diligence. Do you have all documents ready for review like business history document, shopping cart data, monthly sales comparison year to year and contracts with vendors, etc? If the business broker doesn’t have all your material ready to go for a possible review by business buyers, the interested party may walk – be ready to go upfront with all your material for the sales process.

6. Responsiveness: Make sure the broker you choose is good about getting back promptly to potential buyers. This goes back to volume v/s quality. If you don’t ask for references and speak to the references provided by the seller, you will not know how to differentiate between good broker and an average broker.

7. Communication: Constant communication with your broker is important. Ask your broker to keep you in loop of buyer inquiries, response rate and buyer feedback. Find out if your broker has gathered any data for the businesses that he has sold so he can update you once your business is listed with his historic response for the businesses that were sold. Businesses that sell have active broker-owner co-operation and harmony. Good broker will insist on frequent communication with seller. Remember, broker needs your continuous help during the business selling process and you should be prepared to spend time to understand the issues that are being brought up by potential buyers.

8. How Long Does it take to Sell Internet business: Businesses on average typically take six months to eighteen months sell. If your broker does his job correctly your internet business should sell within two to six months. Make sure your broker has a game plan to make this happen!